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Slow-Steaming to Escalate, Drewry Says

Shippers face the likelihood of more slow-steaming on the major east-west trade routes from Asia to the U.S. and Europe as ocean carriers take delivery of more big ships, Drewry said on Monday.

The London-based consultant said it believes carriers are losing money due to the freight rate war taking place in these trades, and they are still confronted with surplus capacity.

It expects carriers to take steps soon to cut vessel capacity between Asia and Europe and between Asia and the U.S, which will result in longer transit times. But it said schedule reliability should improve due to the greater opportunity for making up lost time.

“Although slow-steaming continues to be a contentious issue with shippers, more is on the way as fuel prices remain stubbornly high and ocean carriers can no longer absorb the bill due to the parlous nature of their finances,” Drewry said in its weekly container market analysis.

Bunker fuel prices have declined from last year’s highs, but they still averaged more than $600 per ton during the first four months of the year.

At the end of April, 31 ships over 10,000 20-foot-equivalent units remained on the schedule for delivery this year, and carriers are running out of trade lanes to cascade 8,000-TEU ships out of the Asia-Europe trade lane. The only option is more slow-steaming, Drewry said.

“But with east-west freight rates now plummeting to sub-economic levels again, ocean carriers can return to the view that ‘shippers get the service they pay for’ by further releasing pressure on their vessels’ accelerators,” it said.

via: www.joc.com

Qatar, August 15, 2023QTerminals Group (51% Qatar Ports Management Company Q.C.S.C (Mwani Qatar) and 49% Qatar Navigation Q.P.S.C (Milaha)) has acquired a majority stake in “Kramer Holding B.V.”, a provider of integrated logistics and container services located in the Port of Rotterdam in the Netherlands.

The acquisition of Kramer Group represents an important milestone in the expansion of QTerminals, as the Port of Rotterdam is the largest port in Europe and is a significant addition to QTerminals Group’s record of success in diversifying its operations. In addition, this acquisition further reinforces QTerminals Group’s commitment to contribute towards Qatar National Vision 2030 which aims for the diversification of the national economy and foreign investments.

The CEO of QTerminals, Mr. Neville Bissett, stated: “Kramer Group is an important strategic step for QTerminals as we will expand our presence into Europe’s largest port. Kramer Group complements QTerminals and adds existing business, a robust value-creating service offering and European network to QTerminals portfolio.
Kramer Group has both core and strategic importance to the Port of Rotterdam, as it supplements the Port’s activities whilst having direct access to the deep-sea terminals of the Port of Rotterdam.
The acquisition of the Kramer Group by QTerminals allows its entry and presence in the largest port in Europe which makes QTerminals Group’s position stronger in relation to future opportunities in Europe and other developed global markets.
The presence of QTerminals in the Port of Rotterdam is strategic and reputable for QTerminals Group in particular and for the State of Qatar in general as QTerminals Group’s profile will become known in the largest European port..

“I’m very excited about this significant milestone in the journey of our family business which started 60 years ago by my father. Today, we mark the beginning of a new chapter joining forces with QTerminals. I believe that their expertise, resources, and industry insights will enable us to expand our horizons and explore untapped opportunities. Whilst maintaining our culture, organization, core team and our commitment to delivering the superior quality services to our clients in almost all aspects of container logistics”, said André Kramer, CEO of the Kramer Group.
By acquiring Kramer Group, QTerminals will continue to develop its world leading technical and operational know-how to enhance and optimize its potential as one of the leading providers of integrated container logistics services in Europe.

Kramer Group’s development and growth in recent years are indicators of good corporate management and governance of the organization. “Following our assessment of the current organization, we are excited to retain and welcome Kramer’s key management personnel and employees into QTerminals, including Mr André Kramer, who will continue as Chief Executive Officer” said Neville Bissett.

About Kramer Group

The Kramer Group is an integrated container handling and storage, terminal, container development and logistics services provider, located in the Port of Rotterdam, and is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port.

The Company operates in six different locations with network access to the principal terminals, of which five are at the Maasvlakte and one at the Eem-/Waalhaven, and has tri-modal transport options via rail, water and road.